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Jindal Steel strengthens on bagging order to supply long rails to Tata-Aldesa joint venture

24 Jun 2014 Evaluate

Jindal Steel & Power is currently trading at Rs 330.65, up by 4.00 points or 1.22% from its previous closing of Rs 326.65 on the BSE.

The scrip opened at Rs 326.10 and has touched a high and low of Rs 333.00 and Rs. 326.10 respectively. So far 44766 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 1 has touched a 52 week high of Rs 350.00 on 09-Jun-2014 and a 52 week low of Rs 181.55 on 02-Aug-2013.

Last one week high and low of the scrip stood at Rs 329.50 and Rs 310.70 respectively. The current market cap of the company is Rs 30346.77 crore.

The promoters holding in the company stood at 60.41% while Institutions and Non-Institutions held 26.45% and 13.14% respectively.

Jindal Steel and Power (JSPL) has bagged order to supply around 88,000 tonnes of long rails to the Tata-Aldesa joint venture for use in the Eastern Dedicated Freight Corridor. The company will use its special freight train operator licence from the Indian Railways to transport the rails from its mother plant in Raigarh, Chhattisgarh, to the project site.

Tata-Aldesa is building more than 300 km of rail lines of the Eastern Freight Corridor between Khurja and Kanpur, after securing the project from the Dedicated Freight Corridor Corporation of India.

Moreover, the company has submitted a registration fee of Rs 10 crore for the special freight train operator (SFTO) licence to transport these rails. Further, the steelmaker proposes to operate these rakes from October-November of 2014.

JSPL is a part of Jindal Group and is a leading player in Steel, Power, Mining, Oil & Gas and Infrastructure. The company produces economical and efficient steel and power through backward integration from its own captive coal and iron-ore mines and passes on the benefits to its customers.

Jindal Steel Share Price

1260.40 -9.10 (-0.72%)
20-Apr-2026 09:41 View Price Chart
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